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11/1/2012 10:30AM

ADP: Private Sector Add 158,000 Jobs

Paul Vigna and Kathleen Madigan discuss the ADP private-sector jobs number and look ahead to the October employment report, and David Weidner looks at why New York Stock Exchange made the right call in closing markets.

This transcript has been automatically generated and may not be 100% accurate.

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I ... she ... on forty points in the early going as Wall Street ... continues ... to dig out shovel out bailout from Hurricane Sandy ... odd Gallup SNP up ... about one percent ... what happened on Wall Street's one will get a couple datapoints very inching ... jobs market obviously and Gaga focus going into Tuesday's election ... to reports today tomorrow we get the peekaboo to the monthly jobs or ... paper today that ADP weekly claims ... was reaching down for you Kathleen Madigan ... and in a little ... that network ... but I love it ... and he had never been so happy to be officer at the driver had to withdraw wanting running water running labor ... rights on its own elevator at work yet ... the ADP report because ... during the interval from the left for the Kiwi camp in Rafah anthology ... they partnered up with heart and Moody's now you can really change the ... way now given that they did the revision the September under the new methodology in September was cut in half to eighty eight thousand it's kind of interesting mimic a man and injured fifty eight thousand with the jeweler October right right ... our weeks piano with is a strong number right aam ... but again you know in in in in others revise history and I think kind of mind when you become a track record especially his ADP want to make the point that this is what they think ... tomorrow's number will be revised to ... a month from now the public the marker I really don't care bout you deprive the people to write write is not the overall ... lead to the number tomorrow the channel that they are also ... reveal different ... use of private payrolls ... ADP I mean we've had this checkered history with them in terms of how close they get ... to the jobs report for the month instead on the month is weighing all correct yes yes Eylea is interesting trend haven't which candidate ... is also pretty positive and easily pretty downbeat report that their offer and went to the range and that that ... well so that the three other job related reports that I would put tuna plus category one have on offense ... I claim spell will widen and then we had jobless claims of within that consumer confidence survey of people on ... this thing did with markets much better now have been added in September consumer Coppins Kim it NEM yet yet without delay because the Santi the aam ... Danielle was up before you ... get the highest level since the FSB today yet that that confidence index fell the knowing of the Jersey shore was consulted ... well yet because I think in in ... in October eighteen for something so it will yet you're right ... all of these numbers ... it's really an interesting Steven M for in ... him is affected by the storm yet up on the last one in it that would put ... ten on the ... on the fence is the employment index that then I S M ... slip slip told that they still it ... was in expansionary territory so ... the second as those good things about having to go take all that ... together you know the JOBS gumbo ... wounded him tomorrow will get a monthly report and how good is that ... aam ... I did well I think this puts an upside risk on the one twenty five by faster than a hundred yet housing job with a paddle wheel surveyed over ... which is not a good number right now that that's a pretty weak number it's a bit so I'll be honest and we've been here before I worry that having really positive numbers ... but I didn't see it as an anti this and I'm I'm ... kind of ... in open holding this EU and through frontline get every month that ... I just think we are due a big pop ... in the payroll now ... now that ... you know the Times also think that this thing of the jobless rates can go back up to seven point nine ... but I just feel as though ... um ... maybe because a seasonal problem ... that that ... is more hiring on yet so this is tiny and skinny ... yet yet they are not talk about three thousand staff and something that can really beat expectations and when he won ... a high one yes high number yet and yet again and that ... through an IPO with it ... we would have to get two hundred thousand from two years write a month after month deadline for years to get offended happened to finance an ... unsettling to ... me it's pretty weak and again ... Howell Fannie is and ... aam hit the jobless claims numbers and hiring ... a huge impact on ... yes yes but now the thing you get to file their claims ... yet as Elaine you get to get to this they are more reliant on the bright red ... By Kathleen Madigan think you very much in the face tomorrow ... the room ... when we come back Sandy obviously affecting Jersey Shore New York on my lap ... also affecting many industries will talk about that second ... I lose all all I ... ay ay ... you can see there that's on the wards airlines were ... obviously thousands and thousands of flights had been canceled the affected ... by Sandy here on the East Coast ... how's that going to fit the airlines has the effect of the hotel industry ... a lot of industries are already seeing ... the effects of Sandy Scott Thurm is with us thankfully you're on the Wesco's denied here in the East Coast ... ah well let's talk about this is already we know the airline to the hotel industry are seeing the effects of it ... yes the word is getting glimpses of it I mean ... nothing about the stories that ... knowing that the middle of earnings season so ... companies that might've otherwise weighted couple weeks the sort of begin to detail what you ... want or are doing it in ... in the course of their ... year end statements or if they don't mention it did not ... hear analysts are asking about ... also worked for gave them frappes and wraps ... on would try to piece together while and what it looks like a ... lot of numbers yet what did you know ... that phrasing like significantly ... and ... stuff like ... that ... the Spirit Airlines is one of the ... local hero on said yesterday ... it would give it expects ... the storm was significant ... in its fourth-quarter Hyatt Hotel ... on ... the job a few things about them or hotels it's it's ... it closed at one point or remain closed ... its earnings call ... in the night with a C Moore and every day for the next two weeks to sell all your dreams your ... right ... now I see now summer when that ... point I mean all the way to Asia plates are being affected by this so ... yes I've disease hear Avici regional and national carriers but it ... probably will Apple's any airline that flies in or out of the New York area is going to be affected to some extent by this ... to ... give it a national upside ... and it always is the reason a time ... you know the in ... flight around the role that affected one twenty oh seven ... people who use so yesterday I ... had been made in the store to creep in and GM ... which is looking at the conference in Las Vegas is a far greater than ... four thousand room cancellations from people in the East Coast you can get there ... people from other parts of the country around the world ... who ... either can't or choose ... to go to your next year three four weeks while the city still was in a recovering from store yet ... and talk about the city he took a few companies that operations here in the region ... in one of the was on to what they said over Triumph Group ... group except one ... they pointed ... to her ... and it got ... him up for ... that reason distribution centers in India on areas to amount to to get ... for those for last how are ... they ... implying ... that one of the ones ... who will ... as of yesterday and they did they they didn't have ... numbers on how much of an impact this would be or even ... on a lot of that that that factor in the line ... is that the others were ... should the issue of ... being made to the service ... and they're expected ... to ensure they but there's a ... noted that the ... chain of ... for for DCS ... you know they they have two hundred die ... of their dialysis dialysis center is closed at one point in store ... around ten thousand patient visits ... um you know these are just little glimpses that were getting ... the report yesterday and ... today ... was the scene in hearing more of this everyday ... as earnings season rolls ... having seen ... stunning to me talk about ... how this out the storm will affect GP overall it in a few things ... seem still very early stages obviously have you seen anything on that ... we we ... we have this the ... story today in yesterday's ... paper ... that suggested that if you can't saw growth in the fourth quarter the meaty with it when my aunt and the growth in key one ... thirty ... we would like ... a lot of these cases ... is on you get ... on ... the weak GDP is downgraded to a ... lower GDP it immediately ... in every building that ... actually and GDP and so even some of the companies that we heard from yesterday in these countries are on infrastructure business like ... the services which ... helps build on ... herbs and natural gas ... lines are very involved in all the shale ... drilling ... they said you know Bill the season Extorre from where they expect to see some of the word from the ... rebuilding the crazy side ... but then I was on the downside ... number one because someone steals the show and you know during the storming of ... the book is that ... in order to meet the demand from utilities that ... people from ... other projects to the ... the electrical rebuilding ... project so ... small on ... the shore and potentially a ... block later on in your story that I get hurt and so ... on Scott appreciate the time think very much ... they did ... I will we come back here with all the storm stopped wouldn't of the LivingSocial the deals online deals company ... my new need their own deal profit will be here to talk about it ... and he conceded LivingSocial still a private company still raising money ... however ... the on line deals businesses competitive the business is slowing the companies involved in a ... scene a little bit of a struggle ... when Claire turn on the Street column they fall prey to this one today I am LivingSocial Tony ... they're in trouble ... D add this this is that the whole industries in trouble now right ... so ... it's a step back a second look evaluation in December ... which is the last time LivingSocial raise money they did so to valuation between four and five billion dollars ... today Groupon ... after you back out the cash balance sheet ... is itself worth one point six billion dollars or four times larger than LivingSocial ... so ... even if you and it's it's not fair to say that ... LivingSocial's worth a quarter ... of group on because the kind of business ... you know some get talked to said you know who's the Number two e Bay ... you know this is the kind of business with their network effects and ... whoever wins ... wins ... Overstock ok to be on four seconds to think about OK ok fair enough ... but ... so you gotta look good so maybe these guys are worth ... to three hundred million at best a day in this is after ... raising money for a fight going ... now LivingSocial still up writing group on public ... I mean soak zone Groupon's struggling even much more ... no pun intended ... of public right in but all these companies and his whole the ... whole online couponing few it seems like there's very hot for a little period of time that's material resulting trick was to follow the local publican and and and and it is true and if you look at the sea so when each thinking spelling Social is private but you do get a window into their financial situation because Amazon dot com has an investment company ... ahh and accounts for into the equity method so in their ... filings to actually publish ... revenue ... and operating income for a loss for LivingSocial ... and if you see in the third quarter ... is actually the business shrank ten percent quarter over quarter this is the kind of thing where ... they will say what the fourth with its third quarter seasonally slow but ... at the company at this stage of development that you gotta have more to show forty if you can eat cannot still may not make money and they're still losing ... plenty of money ... that you have to at least be showing growth ... I'm you know we deal with it because of those losses ... and they're not in so the dance of the tricky thing will be ... alright if they can be profitable ... aam ... they could be they could have a monster fourth-quarter and a lot depends on the fourth quarter and that will maybe prove that they can they can persist into profit only ... if they can't do that ... can be profitable ... then in the not growing quickly more ... than ... they've either got a deal be very difficult to raise new money from which they may need ... because they're now down after raising eight hundred million dollars ... the over eight or nine dollars in equity they're down to less than a hundred million in cash the bank ... aam the burned about twenty million so cash last quarter ... but ... then they may have to sell ... it's really it's probably all gone right does this whole little industry is shrinking ... is not enough this is not enough business therefore his players ... that's where this ends up ... and the tricky thing there is ok ... who wants to buy a couple years ago who will put out this cute bid for group on ... its to look like coupons were ... in a coupons could be strategic awaited maybe get a knock on entree to local businesses and ... local is something that people are definitely fighting over special and all the vices ... Yelp ... Foursquare who believe that I mean that that is strategic in yet offers itself ... be not be so the only company you can see that ... did ... maybe I'm too addicted mains by LivingSocial lady somebody else decisive strategic but it doesn't seem too likely ... his group one group wanted to cap the number two competitor that they can and you know cause a lot of costs combining the two operations ... but as I reported my column ... they actually did have ... conversations Prising didn't get there before ... and ... refined decided you know we can use to beat these guys in the marketplace ... and Amy still think that so in other words prime business for for LivingSocial the number of options it is the fourth quarter I mean ... is really a lot depends on its fourth-quarter demonstrate whether these guys can operate independently thick and great ... if not there's can be a lot of questions about where they go next ... I ... often think very much thank him ... NYSE shut down for today's right we all know that by now first time the PTA the weather related shutdown lasted that long ... on ... the night to come now ... lot of critics of the NYSE but the day the Weidner's over there a ... few in Stephen Sysco name some of the wiener ... I don't actually devoted to land it ... planted so I'm now on the chore unbelievable ... look ... I you know why it's the getting a lot of criticism for the shut down the years and it is unwarranted ... to help all ... covered in shade for ... a few years ago after nine eleven ... AM the ... outcome of the way ... of the ... Total put in place to get to change ... up and running an event that the best ... of the weekend he had an ... event that after ... sch and I'm so I'm people disappointed or surprised that people level of credit to them to kind of an accountant ... I think that to them ... about the exchange ... it became ... a painful story is that there were not ... two p m Wednesday were talking about ... of the fifteen percent of the country that doesn't have power that opened the back ... that includes a lot of investors that includes traders that includes ... armed ... people who tend to trade in the market ... I and I I think that something of be on whether or not they could flip the switch to ... Wall Street ... we're talking about ... I couldn't get back ... to the mark applied to mother but growing travel marketplace ... if people can't get it so ... story short I do I feel like him why he didn't do it ... all ... and I don't think that that ... there's anything I've had to live in Tacoma that you know they have a fully on ... the ... market for dimension to the electronic exchange and wine now ... so I I can lead to a minute ago Monday I don't see any reason why they wouldn't be ... and it literally assured me that that they have all been compliant in community ... because ... investors couldn't get back ... to the market ... and that's an entirely different ... so ... I know they say ... this is complaining ... DeMarco cruises ... well it did not go up ... I've been adapted to it that people don't understand ... oh well how the market had changed ... over the last decade no different than thought ... I think that the difference between on ... while it ... I'm ... and people that ... the content for so much weight in the event that they can be your own meals a ... day and you know better than I do I mean it ... it was a neat ... event ... and ... you guys are still struggling ... to getting our ... much what ... I'm ... being able ... to conduct the appeal of the internet ... to the exchange and then to think of ... I think people are looking ... into them ... I was that there are two of them are going to pretty good at thinking chairman but ... you know I I ... he ... is thinking of it that when the euro ... exchange but I ... think that that giving people ... a couple days ... aam ... but you know it there's a lot ... of people that go ... into ... the mid to ... high and it ... it could go ... ahead and can open the doors Monday morning ... you can only imagine American people ... the risk of trying to get back into ... the mic event and worked with a client ... on so ... I don't I don't know why ... the the predicament into the into the environment now one of the penny every every Christian can ... video poker ... I ... live from San Francisco appreciate time star